Quote from: Huppercase on November 25, 2023, 08:12:04 PM

Quote from: cryptoaddictchie on November 22, 2023, 03:24:20 AM

What a shocking event this morning when CZ resigned as CEO and replaced by Richard Teng as the new CEO. With the SEC plead guilty issue of CZ. Well this si unexpected news knowing CZ built the Binance so strong. Anyway with the new CEO possible new eras and new beggining for Binance.

Check the Binance announcement for complete story.

https://www.binance.com/en/blog/leadership/binance-announcement-reaching-resolution-with-us-regulators-2904832835382364558

Binance is screw and I feel, there is more to this show than is even reported in the news. Richard Teng was reported to be the formal head of Binance marketing. I really not sure how that guy was going to handle the affairs of Binance like CZ. I don't follow CZ as usual but I know the guy is very symbolic in the crypto market, his statement givea everyone in the crypto space confidence when they have zero hope but he is the type that always encourage, I am not sure if the new CEO has the mental strangth to do that.

Another red flag about this new CEO is that the US are going to be looking at everything he does from now on because they caught CZ red handed and was charge with $4b, now,imagine how much they can make from Binance if they dig more or when they found out that there staffs are doing somr bad things under the hood. It will makes me more scarred about the future of crypto and the crypto market.

well I guess CZ gonna be his advisor anyway nothing to worry in this case binance will still exists but whether it will decline we don't know for sure but we can see it just within months and see the trading volume and overall liquidity of the exchange itself.
when a exchange is declining it won't do much to the market of cryptocurrency, remember bittrex? you don't even realize its declining exchange even went bankrupt even though it was among the most prominent exchange back then but it does absolutely nothing towards the market, its only a collapse of exchange where it causes many people to lose money that causes uproar in the cryptocurrency market.
which unavoidably could make the trend changing bearish.